Forbes - Is President Trump actually broke?

[BlueWavePsych]

Is Trump Broke? New Report Details Decades Of President’s Taxes And Financial Failures

However, it could be that the President’s most perilous financial circumstances are ahead of him. The long running audit of the Trump Organization’s federal returns, including a $72.9 million refund, remains unresolved. Depending on the final decision of the Internal Revenue Service, a reversal the large refund, plus interest and potential penalties, could result in the President and his businesses owing the federal government over $100 million. The Trump Organization also faces looming debt payments on Trump properties that will undoubtedly place financial pressure on the President and his businesses. The Times reports that the President appears to be personally on the hook for over $421 million of loans made by third-parties to Trump entities. There is also a $100 million mortgage due on the iconic Trump Tower.

The financial picture of Trump painted by The New York Times, based the President’s own tax filings, poses deeply troubling questions about the President’s past and future. When running for President, Trump held out the story of his financial success as an example of how he could “help make America great again.” But the reality then, like perhaps now, is that the President’s financial failures outweighed his successes, making the narrative he told the country grossly misleading. One can only conclude that he knew his tax returns would reveal such truths, and that is why he has been adamant about refusing to release them.

Equally as troubling are the questions about the President’s financial future. With massive debts coming due, and the prospect of a substantial federal tax bill looming, Trump may once again be facing financial bankruptcy. If Trump should win the reelection in November, some of his major bills will come due while he is in office, also raising the prospect of a financially beleaguered President distracted by his own potentially ruinous finances.

The President may not be broke, at least not completely. But one thing is certain, all of his financial losses are no longer a secret… and soon they might result in his biggest loss of all — on November 3rd.

https://www.forbes.com/sites/sethcohen/2020/09/28/is-trump-broke-new-report-details-decades-of-presidents-taxes-and-financial-failures/

Coming from Forbes magazine, it does not bode well for Drumpf.

[BannonsLiver]

1. It sounds like liquidity is a very big issue for him

And when you have $400 million in loans coming due that seems especially problematic.

In 2016 Mark Cuban said that Trump likely had more than $1 billion in assets but that he probably had less than $100 million in cash.

[erronis]

27. Those $400 million are only what are disclosed. And when the rat-funders start demanding payments,

the rest of the rat-funders will pile on.

Some will try it legally via liens.

Some may use the mafioso techniques that the trump and putin types know quite well.

Watch your knee-caps. And careful with that can of diet-coca donnie.

[BannonsLiver]

41. I always wondered if he ran for POTUS

Because he believed his life was in danger because of money owed to Russian mobsters and being president offered a level of protection he couldn’t afford or obtain otherwise.

[Raster]

44. I think tRump* was offered no choice...

...I think Putin* "conditioned" his "sponsorship" on tRump* running for POTUS. I loved his reaction the night tRump* found out he won... "I guess we're doing this." No joy. No jubilation. Just an odd sense of reckoning.

[StClone]

37. Liquidity-Is this a Pee Tape homage

[BannonsLiver]

39. I'm not that clever!

[StClone]

40. Well I will give you credit for getting me to

laugh about "liquidity."

[empedocles]

2. ' . . . broke . . . at least not completely . . ' - broke that no way he

can pay 72 million anywhere.

[smirkymonkey]

3. K&R

[mshasta]

4. He is broke, how Melania can afford

That expensive outfits all the time ....they are not pass season..

[mr_lebowski]

20. Umm ... Credit Cards? Handler's Stipend from Unkle Vladimir? (nt)

[sarcasmo]

5. Yes and Melania is a dolt for sticking around.

[marble falls]

10. I bet Milania has got a big piece of change in the bank. If she's half as mercenary as ...

some say, there's no doubt she was too smart to bet on promises.

[NCjack]

11. Just like when she was a working girl, she takes $100 out of Mr. Trump's

wallet every night while he is asleep.

[marble falls]

22. A person with a limited skill set being taken advantage of by a rich slimeball gotta do what ...

she's gotta do. It isn't as if she speaks four languages and has a couple of degrees for real.

She may not be very compelling but I understand her position.

[sarcasmo]

43. Melania should have learned from Maddoff's wife.

[jcgoldie]

15. Natasha will stick around precisely until...

Pootie says cut him loose he's no longer useful.

[Orangepeel]

6. he probably has ill-gotten money squirreled away in an off shore account

[mdbl]

36. This sounds like an episode of "American Greed"

and should be part of "Dumb Crook News"

[VWolf]

7. Broke-a-hontas

Saw that in another thread

[jayschool2013]

8. We the people should buy Mierda-Lago

for a penny on the dollar and turn it into an immigration processing station — the Ellis Island of the 21st century.

[hibbing]

9. The ruling class does not brag about how much money they have

Smart people don't brag about how smart they are, it goes on and on.

Peace

[wnylib]

32. So very true. People with real money, talent, or

intelligence do not need to brag. They are comfortable with who they are and what they have. In fact, they sometimes downplay it to make people feel comfortable around them.

Only the insecure who don't have any of the above brag that they do have it.

[Escurumbele]

12. trump, and his kids are so stupid that instead of showing their true selves

evil, corrupt, etc. etc., trump could have opted to become a good president, and he would have benefitted tremendously from the experience. I guess he and his family can only think of doing things one way, and that is to be as corrupt as they can, as evil as possible, and to corrupt everything and everyone around them.

Some people get a chance to become great in history, but instead they choose the wrong path...what an opportunity lost, everything that Obama left behind that he could have worked from, but instead he decided to destroy.

[Klaralven]

13. If Trump is still president, the holders of the debt will probably roll the debt over

If he's not president, they will probably roll Trump. Forced liquidation may cause all that depreciation he's been taking actually become real when he has to sell buildings at depressed prices. He's obviously betting that the properties appreciate, in which case the depreciation comes back as capital gains.

[Pepsidog]

30. Involuntary bankruptcy? I defended a client against one but it was a small business.

[Klaralven]

31. I'm hoping that a Democratic version of Paul Singer holds part of the debt

[Enoki33]

33. Interesting that the holders of the $421m he is personally

responsible for are third party lenders.

[wnylib]

34. As Nancy Pelosi and others have pointed out,

his outstanding debts make him a huge security risk.

[ProfessorGAC]

14. File Under "Well, Duh!"

I'm not a big time financial professional, but I've opined on this, and provided numbers, publicly available, made this clear 3 or 4 years ago.
Certainly, since the Moody's report more than 2 years ago.

[Cha]

16. ".. grossly misleading.. "? trump is a fucking LIAR.

[Roy Rolling]

17. Best Hashtag Yet

#brokeahontas

[Aussie105]

18. Broke?

Cash flow problem?

The math is quite simple.

Your net worth = book value of your assets minus your debts - current and upcoming.
Actual net worth = actual value of assets after selling them minus debts.
Cash flow = currently held cash minus outgoings. Factor in future income and future outflow.

The Devil is in the details of that, though.
I don't think anyone knows the actual + or - number of Don's finances at the moment. But the way they have been dipping into funds NOT THEIRS tells me something.

(Maybe someone should drop a few dollar bills in front of Trump, and see if he picks them up?)

As for the Millenium_Hooker, I bet she is worried about who is going to pay for her next 'kidney' job. And Princess Sparkle Pony, looking plastic as she does isn't cheap.

[Lonestarblue]

19. So this is why he tried to sell the lease on the DC Trump Hotel.

It was hugely overpriced so no one offered to buy it. Now the sharks can circle and wait until he goes down. Can’t wait!

[JDC]

21. Forbes can expect a call from John Baron to set the record straight.

[Aerator]

23. Feminine products

Just think for a minute that we live in a Country were women can not deduct Feminine hygiene products because they are considered a luxury item and in 45 states they are even taxed all while trump was deducting 70,000 dollars for hair care.

[niyad]

25. Thank you for that most excellent point.

[ffr]

24. It all adds up. 2016 was just a ploy to reviive his brand. Then some Cultists jumped onboard

and Comey, and Russia, and here we are today.

Now he needs to stay in power to keep this fragile and crumbling house of cards from crashing down.

[SayItLoud]

26. Kushner Companies were on the edge of bankruptcy last October...until

Some Middle Eastern infusion of $600 million to "lease" their devil building at 666 Park Av, NYC. It still sits vacant. How? Well Kushner had meeting with MBS of Saudi Arabia, suddenly all those in the House of Saud who were not supporters of MBS started to get jail, and disappear. Then the money flowed to Kushner. Did he give MBS intel that pointed to MBS's enemies? Nah, he wouldn't do that.

Or did Kushner push the old orange man to give the Saudis nuke equipment, state of the art jets....nah, he wouldn't do that.

These traitors have been and are trading top secret intel for $$$. That's treason.

[nwliberalkiwi]

28. Coming Due

Just wondering if one of the reasons Trump wants next term is for the protection offered him. If out of office the protection goes down and the Russian debts come due!!! The Russian Mafia are not to be screwed with and Trump knows that!!!

[Pepsidog]

29. He's dead ass broke. Has been and always will be. Serial failure.

[mdbl]

35. It's nice to know everything I spend is a tax write-off

I have a small business. From now on I'll make sure haircuts, razor blades, shaving cream, contact lenses, all clothing, all driving expenses, etc will be on my taxes as a deduction. Since my pets entertain my clients, I will write off the vet bills and dog food expense as well. I have been doing this all wrong.... according to Trump lol.

[JohnnyRingo]

38. I don't think he's at all broke.

I believe he's a tax cheat who stupidly shined a spotlight on himself in 2016.
It may be true that he has a lot of outstanding debt, but he may have been able to rise above that if he hadn't run for office.

[ProfessorGAC]

45. Doubtful

Moody's did the credit worthiness audit required by law for lenders to privately held corporations in 2018.
It's required to assure banks have the right factors to assess risk.
That was when he was claiming to have a net worth of $4.8 billion.
The organization publicly declared $10.2 billion in assets, with $5.4 billion in debt.
Moody's determined the asset value was overstated by 20%, and debt load understated by around $800 million.
That was before the Deutsche Bank and Bank of China loans were revealed, totalling another $900 million or so.
The the idiot son admitted they regularly got funding from Russia.
Now Forbes has devalued the properties again, by $600 million.
We're now at around $7.1 million in debt, and $7.4 billion in asset value.
That's a net of $300 million assuming no other debt, but we don't know how much Russian money junior was talking about.
$300 million is already less that 80% of what he inherited in 1992. Negative growth over 28 years.
And, all the numbers above are publicly available. They were all printed in magazines, and never retracted.
Who knows how much other debt is owed and what other assets are only modestly inflated.
Tax cheat? We agree.
Still uber rich? I find that unlikely.

[UCmeNdc]

42. Russian Money?

Link to tweet